Welcome to our dedicated page for Parsons news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons stock.
Parsons Corporation provides technology-driven solutions for national security and global infrastructure markets through Federal Solutions and Critical Infrastructure activities. Company news commonly covers U.S. government and defense contract awards, nuclear enterprise mission assurance support, energy resilience and microgrid work, program management, transportation design, and digital infrastructure technologies such as demand response systems and TAK-as-a-Service.
Updates also report quarterly results, backlog, book-to-bill trends, guidance, acquisitions, and project milestones across cyber and electronic warfare, space and missile defense, transportation, water, environment, urban development, and critical infrastructure protection.
Parsons Corporation (NYSE: PSN) will have executives Carey Smith and George Ball participate in a Q&A session on March 16, 2021, at 2:50 p.m. ET during the 2021 J.P. Morgan Industrials Conference. The event will be accessible via live webcast on Parsons' investor relations page, with a replay available for 30 days. Parsons is recognized as a leading disruptor in technology for defense, intelligence, and critical infrastructure, focusing on areas such as cybersecurity, missile defense, and smart cities.
Parsons Corporation (NYSE: PSN) is boosting investments in solutions to address per- and polyfluoroalkyl substances (PFAS), a growing environmental and public health challenge. With over 250 PFAS projects globally, Parsons aims to enhance technology for PFAS remediation. The company is leveraging data analytics, machine learning, and developing three patent-pending technologies for PFAS destruction. Additionally, Parsons is expanding its environmental treatability lab in Syracuse, New York, to further research PFAS issues, anticipating continued market growth as regulations evolve.
Parsons Corporation (NYSE: PSN) is advancing artificial intelligence (AI) across federal solutions and critical infrastructure to enhance decision-making and user experience. The firm has developed innovative tools, including an AI-enabled weapon-target pairing algorithm and an electronic warfare planning tool named TEMPO. Additionally, Parsons secured a classified contract for AI-based constellation task scheduling algorithms. These initiatives aim to improve situational awareness and operational efficiency while ensuring the security of critical infrastructure.
Parsons Corporation (NYSE: PSN) has launched its Cultivating a Responsible Enterprise (CARE) strategy, reinforcing its commitment to environment, social, and governance (ESG) practices. The strategy aims to reduce greenhouse gas emissions by 20% by 2025 and enhance diversity within the organization. CEO Chuck Harrington emphasized the importance of creating an inclusive work environment and maintaining operational excellence. This comprehensive approach seeks to drive revenue growth while aligning with sustainable practices and stakeholder engagement.
Parsons Corporation (NYSE: PSN) has secured a six-year, $100 million indefinite-delivery, indefinite-quantity (IDIQ) contract from the Naval Information Warfare Center (NIWC) Pacific. This new contract includes a two-year base period with two additional two-year options, providing support in management, engineering, technical assistance, and logistics related to Command, Control, Communications, Computers, & Intelligence (C4I). The company aims to enhance the Navy's operational effectiveness through advanced technology in artificial intelligence and data analytics.
Parsons Corporation (NYSE: PSN) will host a virtual Investor Day on March 11, 2021, focusing on its vision, strategy, and financial targets. The event will feature presentations from key executives, including CEO Chuck Harrington and CFO George Ball. Attendees can expect insights on growth initiatives across various sectors, including cybersecurity and critical infrastructure. The event is set for 9:00 a.m. to 11:30 a.m. ET and will include Q&A sessions with the leadership team. Interested parties can register at investorday.parsons.com.
Parsons Corporation (NYSE: PSN) has secured an indefinite-delivery, indefinite-quantity (IDIQ) contract from the U.S. Air Force Civil Engineer Center, valued at $2 billion over a potential 10-year period. The contract includes design, construction management, and modernization of Air Force Bases globally, with a five-year base contract and an optional five-year extension. This contract marks a continuation of Parsons' 60-year partnership with the U.S. Air Force and follows their previous AE13DCS contract.
Parsons Corporation (NYSE: PSN) reported Q4 and full-year 2020 results, revealing a 7% decline in quarterly revenue to $964 million, affected by COVID-19 impacts. Operating income surged 71% to $42 million, leading to a net income increase to $22 million. Full-year revenue of $3.9 billion saw a 1% decrease, with adjusted EBITDA rising 5% to $343 million. The company maintained a solid cash flow of $176 million for Q4. Notable contract wins included a $1.2 billion rail project in Edmonton. Guidance for 2021 expects revenue between $3.85 billion and $4.05 billion.
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Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the U.S. Postal Service (USPS), valued at up to $600 million. This marks the company's third consecutive contract with USPS, supporting ongoing modernization efforts. Parsons aims to enhance mail service reliability through expertise in program management and construction. The contract encompasses various USPS initiatives, including self-service kiosks and facility modernization.